Phil,
If you don't already have these they can be had at Sears. You need a 1/4" drive 5/16" hex socket and a 1/4" locking drive extension. Cut the female socket off of the extension and you are ready to go. Now the socket cannot be pulled off into the engine.
The
oil cooler is usually practical to some extent, especially if you plan on any road racing and it looks cool. The most important part of the
oil cooler system is a thermostat. The most practical is a Mocal sandwich type, but the important thing is to have one. Proper lubrication is done with hot
oil!
As for a procedure, I'm not sure there is one. Consider this, remove both valve covers, fill the pan to normal level, run the drill counter clockwise for one minute, refill oil level, run drill for another minute, refill oil level if needed and now run drill as long as it takes to get good oil seepage from all pushrods. Start the engine and rev just enough to maintain idle for about 5 minutes. Shut-off the engine and let it rest for a few minutes allowing the oil to normally return to the pan, wipe the stick and check the level.
You will also need and electric drill because this will take awhile.
Just my two cents, but I think it may help.